Note: These funding instructions relate to Advance funds. For more detail on funding for non-advance products, please reach out to your Partner Success Representative.
Step one: Verification
- To ensure student data is correct before releasing funds, we implemented the Enrollment Verification process which allows school representatives to complete a final check before funds are released for a student.
- There are three conditions that must be met before a student can be verified.
- Rescission period — 4 days
- Enrollment Period — Student must start their first day of class
- Drop period — normally 0 days (to extend the drop period between enrollment and funding, please reach out to your account manager)
- Once these conditions are met, a student is eligible to be verified and will be funded on the next funding date
Step two: Funding
- When you launch with Climb, we will ask you for your banking/ACH information. At every scheduled disbursement date, we will directly deposit applicable funds to your account on file.
Timing
- Climb funds loans twice a month on the 10th and 20th business day
- Funds are disbursed via ACH payments. Please allow 1-3 business days for the funds to hit your account
- For a complete view of the schedule, please see our Funding Calendar!
Confirmation deadline
- Every funding date has a corresponding confirmation deadline that requires students to be verified before that date.
- If the confirmation deadline is missed, the student will be funded on the next funding date.